Kangxin New Materials Co.,Ltd. Posted 37.5 Million Yuan Net Loss in First Quarter of 2022

Kangxin New Materials Co.,Ltd. (康欣新材料股份有限公司) (600076.SH) reported a net loss of 37.5 million yuan in the first quarter of 2022, reversing a net profit of 41.7 million yuan for the same period in the previous year.

Meanwhile, the company posted 147.8 million yuan in revenue, down 63.6% year-on-year.

At the end of the reporting period, it had 7.7 billion yuan in total assets and 2.9 billion yuan in total liabilities, with a liability-to-asset ratio of 37.4%.